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Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
 The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between 48 million metric tons and 51 million tons of coal, citing difficult market conditions.
The company’s original forecast for the year was 50 million to 53 million tons.
“Despite the challenging market conditions, we remain on track to deliver on our long-term strategies to grow and create value. Our response to the economic downturn is not meant to distract us but to focus on our core business,” said Cameron Tough, Adaro’s head of investor relations.
Adaro’s coal production was 12.05 million tons in the second quarter of this year, bringing first-half production to 23.01 million tons, a slight improvement from the 22.81 million tons of coal produced last year, the company said in its quarterly activities report.
The miner saw a 5.1 percent year-on-year decrease in coal sales during the second quarter, while sales for the first half were 23.96 million tons, down from 24.02 million tons.
Analysts in Jakarta said that the domestic coal industry was expected to face tough times due to the economic slowdown in China and India, the two biggest importers of Indonesian coal. Adaro, however, believes that the long-term fundamentals for coal remain intact.
“We believe the recent weakness in the coal price is driven by excess supply, not the lack of demand,” Tough said.
The company has invested $744 million for the acquisition of coal deposits and a logistics company during the past two and a half years and spent $52.2 million for infrastructure projects in the second quarter to support its growth trajectory.
Reza Priyambadha, an analyst at Indosurya Asset Management, suggested that years of strong demand from India and China resulted in an oversupply of coal.
Reza said the slowing global economy caused major industries, including in China, to cut back on production, reducing demand for fuel from coal and natural gas.
Adaro’s net income will probably increase by 3.6 percent this year, according to Bloomberg data, a year after the company saw its profit more than double to $552 million.
Such a turnaround would also affect heavy-equipment businesses that are linked closely with the mining industry.
United Tractors, the heavy-equipment unit of Astra International, revised its sales target for this year to 8,500 units, down from a previous forecast of 9,500 units.
Shares of Adaro closed unchanged at Rp 1,520 on the Indonesia Stock Exchange on Friday.
Source: The Jakarta globe (By - Tito Summa Siahaan)
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Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
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- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
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